1. Europe has withhold aid payments to Greece before a referendum on a bailout agreement.This is an unexpected news to the market. German and French has stopped 8 billion euros aid to Greece. Basically, this is a very strong warning that Greece will surrender all European aid if its Parliament votes against a bailout package in the referendum
2. No QE3 this time from US, although Ben Bernanke did say that additional stimulus "remains on the table". Although this can still be an overall neutral news, market need a QE3 to respond to possible drag from Europe.
Final conclusion:
KLCI may drop below 1460 today, depending on how Hang Seng respond to the news.
This blog is related to observations regarding stocks traded in Malaysia. Disclaimer: The company analysis that appear in this blog is merely facts gathered from different sources and the author's personal view. It is not a buy or sell recommendation. The author do not guarantee the accuracy of the facts being presented. Please consult your investment advisors before acting on any information provided by the analysis above.
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